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2025-06-18•France•Bank of France
The Bank of France, with France’s Ministry of the Economy and Finance, the French Banking Federation, and the Observatory for the Security of Payment Means, has renewed its warning on payment fraud and launched a national awareness campaign. Despite a 2% decrease in manipulation fraud value in early 2024, risks from scams and generative AI threats persist. The campaign, starting this weekend, emphasizes not disclosing banking codes or passwords.
Financial literacy & educationFraud and scams
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2025-06-18•Austria•Austria Financial Market Authority
The Austria Financial Market Authority released the third episode of its consumer podcast “Reden wir über Geld,” focusing on payment methods while traveling and online, and avoiding associated fees and risks. The episode covers secure internet payments, SEPA direct debits, real-time bank transfer precautions, and dynamic currency conversion costs. It also highlights advance payment fraud in its “Fraud der Folge” segment.
Financial literacy & educationPayments and payment systemsFraud and scams
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2025-06-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding a fraudulent website mimicking The Hong Kong Mortgage Corporation Limited's official site. The fake site, https://www.noblewincapitallimited[.]com, is not associated with HKMC or its subsidiaries. HKMC advises the public to verify communications and report suspected fraud to the Police.
SupervisionAlertsFraud and scams
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2025-06-18•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to three banks. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers affected by these scams should contact their bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-06-18•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan outlined measures to protect consumer rights, including a ban on loans to borrowers with over 90-day overdue loans and a two-year moratorium on selling problem loans to collectors. Fraud prevention initiatives include mandatory biometric identification for online loans and a statutory right to opt out of loans via eGov, with over 2.2 million users. Additional measures include interest rate caps, expanded out-of-court dispute resolution, and new fraud-risk management requirements.
Policy & regulationRules & requirementsLendingSupervision process and methodologies
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2025-06-18•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan have drafted a joint resolution to suspend the reduction of the maximum annual effective interest rate for mortgage housing loans from 25% to 20% until 1 November 2025. This suspension aims to provide second-tier banks with additional time to adjust their systems and policies.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-06-18•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan will hold a public discussion on its regulatory impact analysis regarding self-regulation in the microfinance market. The discussion will take place on the "Open regulatory legal acts" online portal from 2 to 4 July. A videoconference is scheduled for 2 July.
Policy & regulationOther
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2025-06-18•Uzbekistan•Central Bank of the Republic of Uzbekistan
The IMF Executive Board's 2025 Article IV consultation with Uzbekistan highlighted strong economic performance but noted vulnerabilities from a large state footprint and external uncertainties. Priorities include cementing macro-financial stability, reducing the state's economic role, and supporting private sector-led growth. Recommendations emphasize fiscal discipline, improved monetary policy communication, greater exchange rate flexibility, and enhanced banking supervision.
Policy & regulationInternational standards & recommendations
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2025-06-18•Thailand•Thailand Office of Insurance Commission
Thailand's Office of Insurance Commission convened with life and non-life insurers to enhance service standards and expedite complaint handling. Insurers are urged to monitor service delivery against SLA standards and use complaint data for performance improvements. The meeting also addressed challenges in electric vehicle motor insurance, emphasizing transparency and efficient dispute resolution.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-06-18•San Marino•Central Bank of San Marino
Central Bank of San Marino President Catia Tomasetti stressed at an ABS conference the need for timely tools to manage business distress, preventing spillovers to banks and the economy. She advocated proactive bank systems for impaired loans and legal mechanisms for debt restructuring, including out-of-court solutions. Tomasetti highlighted updating San Marino’s crisis rules and suggested participatory financial instruments for flexible debt restructuring.
Policy & regulationReform agendas & prioritiesRecovery and resolution
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2025-06-18•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has imposed penalties on two local banks and four exchange companies under its supervision.
EnforcementSanctions & designationsCompliance
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2025-06-18•Israel•Bank of Israel
The Bank of Israel’s Supervisor of Credit Data Sharing has instructed credit providers to extend the reporting trigger for loan repayment arrears from 30 to 60 days past due, applicable from June to August 2025, to mitigate economic strain impacts from Operation Rising Lion. This measure aims to provide borrowers more time to manage debts and prevent negative effects on credit ratings and access.
SupervisionRegulatory reporting
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2025-06-18•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, with a World Bank mission, is advancing projects to modernize payment systems, focusing on joining the Single Euro Payments Area (SEPA). These initiatives aim to enhance economic integration with the EU by reducing cross-border payment costs, improving diaspora connectivity, and boosting foreign investment. The efforts are part of a broader strategy to upgrade financial infrastructure.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-18•Liberia•Central Bank of Liberia
The Central Bank of Liberia published an IMF staff statement saying Liberia’s performance under the Extended Credit Facility has been broadly satisfactory and that understandings have been reached on most key policies for the second review. The statement highlighted a stronger 2024 fiscal outturn, easing inflation and an improved current account, while lowering the medium-term outlook because of halted aid flows and a weaker global environment. Talks on remaining issues will continue virtually with the aim of reaching a staff-level agreement in the coming weeks.
ResearchEconomic data and developmentsFinancial stability and systemic risk
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2025-06-18•Spain•Bank of Spain
The Bank of Spain updated its Compendium of Good Banking Practices, enhancing guidance on customer relations and AML/CFT measures. Key additions include criteria with SEPBLAC for account access denials and payment restrictions, emphasizing risk mitigation and financial inclusion. The update also covers customer communications, complaint handling, and criteria for financial loss calculations in mortgage repayments.
Policy & regulationGuidance & interpretationAML and CFTConsumer and investor protection
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2025-06-18•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten announced that the Caribbean guilder banknote series won the Regional Best New Banknote Series 2025 Award at the High Security Printing Latin America Conference. The award recognized the notes for their visual artistry, technical sophistication, and cultural reflection. CBCS representatives also highlighted the importance of effective communication during currency introductions at the conference.
Other
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2025-06-18•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) approved automatic enrolment for 24 benefit plans managed by 17 closed supplementary pension entities, following updates to PREVIC Resolution 23/2023. This supports automatic enrolment under National Council for Complementary Pensions Resolution No. 60/2024. An ABRAPP survey indicated early positive effects, with participation rates rising from 88% to 93% on average among entities adopting the model.
Policy & regulationRules & requirementsLicence approval
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2025-06-18•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines, through the Financial Sector Forum, launched the 2025 "Protect Your Money" campaign to boost financial consumer awareness and combat scams, focusing on digital channels. Unveiled in Manila, the campaign will provide guidance via various media on safe transaction practices and scam warning signs. FSF member agencies will implement the campaign, updating the 2013 initiative to address new fraud risks.
Financial literacy & educationConsumer and investor protection
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2025-06-18•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released its NZX Obligations Review 2025, evaluating NZX's compliance with licensed market operator obligations under the Financial Markets Conduct Act 2013 for 2024, including management of potential conflicts between regulatory and commercial functions.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-06-18•United States•New York State Department of Financial Services
The New York State Department of Financial Services, with the Brooklyn District Attorney’s Office and the New York State Attorney General, disrupted a fraudulent cryptocurrency scheme targeting Russian-speaking New Yorkers via deceptive Facebook ads and fake trading sites. The operation seized USD 140,000 in cryptocurrency, froze approximately USD 300,000, and dismantled scam websites and registrar accounts. Investigators identified over 300 victims with estimated losses exceeding USD 1 million in Brooklyn alone.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-18•Estonia•Finantsinspektsioon
Estonia's Financial Supervision Authority, Finantsinspektsioon, has launched a public competition to appoint a new Chair of the Management Board, as current Chair Kilvar Kessler will not seek reappointment when his term ends on 15 January 2026. Supervisory Board Chair Jürgen Ligi emphasized the competitive selection process reflects a strategic shift rather than dissatisfaction with Kessler, acknowledging his contributions to market stability and anti-money laundering supervision.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Morocco•Central Bank of Morocco
The Central Bank of Morocco and the International Finance Corporation are enhancing agricultural financial inclusion with an innovative financing model for small farmers and value chains. This initiative aims to improve access to tailored financial services in Morocco's AgTech sector by integrating technology solutions and mobilizing financial ecosystem stakeholders. The agreement also emphasizes developing new approaches to utilize agricultural data and increase farmer awareness of financing options.
Policy & regulationCooperationFinancial inclusionMarket development
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2025-06-18•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority's annual review confirmed that NZX met all market operator licence requirements for 2024, with no adverse findings. The report recommended enhancing operational resilience and recovery, focusing on participant resiliency, business continuity, and system recovery arrangements.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-06-18•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached schedule to pay a fee of VND 1,000,000 to complete the process for receiving a securities practice certificate. Payment can be made via bank transfer or directly at the Commission, with specific payment references required. Failure to complete the procedure within one year will result in the cancellation of the granted certificate.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-18•Europe•European Council
The European Council and the European Parliament have provisionally agreed to amend the Central Securities Depositories Regulation, reducing the settlement cycle for trades in transferable securities on EU trading venues from T+2 to T+1. Certain securities financing transactions will be exempt if documented as single transactions with two linked operations. The new rules are set to apply from 11 October 2027, pending formal adoption.
Policy & regulationRules & requirementsMarket infrastructure
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2025-06-18•Europe•European Council
The European Council's Coreper approved a mandate to modernize EU payment services, focusing on reducing fraud, enhancing consumer protection, and increasing fee transparency. It includes anti-fraud measures, transparency for ATM transactions, and improved access for payment service providers. Negotiations with the European Parliament will finalize the regulation and amendments to the Payment Services Directive (PSD2).
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-06-18•Serbia•National Bank of Serbia
The National Bank of Serbia reported double-digit growth in mobile and electronic banking users for Q1 2025, with mobile banking driving transaction volume increases. Mobile banking users rose 15.8% to 4.84 million, while electronic banking users grew 15.1% to 4.79 million. Total payments via these channels increased 5.9% to 61.9 million, with mobile payments up 25.4% and electronic payments down 8.1%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-18•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued a market alert and ordered Elion Capital Ltda to cease public offering of securities intermediation services, citing unauthorized activities targeting Brazil-resident clients. The firm and its partners, associated with specific websites, were found to be improperly presenting themselves as investment advisers and engaging in unauthorized fundraising activities.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-06-18•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered foreign companies associated with the Vantage Markets brand to cease public offerings of securities intermediation services in Brazil. The entities, including Vantage International Group and others, are not authorized to intermediate securities or raise funds from investors. This enforcement action was issued through CVM Declaratory Act 23.510.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-18•Estonia•Central Bank of Estonia
The Central Bank of Estonia’s Supervisory Board appointed Joel Kukemelk to the Supervisory Board of Finantsinspektsioon for a three-year term starting 1 October, succeeding Rein Minka. Kukemelk has held roles at LHV Varahaldus and FinanceEstonia. Finantsinspektsioon’s Supervisory Board comprises six members, including the Minister of Finance and the Governor of the Central Bank of Estonia.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has issued a market warning and ordered EBC Financial Group and its partners to suspend public offerings of securities intermediation services. The CVM identified unauthorized solicitation activities targeting Brazilian residents. The suspension was enacted through CVM Declaratory Act 23,512.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-06-18•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Resolution 230, delaying the implementation of Resolutions 215 and 216, which establish a new regime for public tender offers (OPAs) by listed companies, from 1 July 2025 to 1 October 2025. The postponement is due to the need to complete the automated OPA module in the SRE registration system. Resolution 230 took effect immediately without a regulatory impact assessment or public consultation, as it is considered a minor adjustment.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-18•Oman•Oman Financial Services Authority
The Oman Financial Services Authority met with insurers and healthcare institutions to advance Dhamani's second phase, enabling medical document exchange. By May 2025, Dhamani processed over four million transactions, connecting all insurers with numerous healthcare facilities and serving over 650,000 policyholders. The platform handles about 40,000 transactions daily, underscoring digital integration's importance in healthcare and insurance.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-18•Malaysia•Malaysia Securities Commission
The Joint Committee on Climate Change, co-chaired by the Malaysia Securities Commission and Bank Negara Malaysia, announced the launch of the Climate Finance Innovation Lab at the Sasana Symposium 2025. Administered by Bank Pembangunan Malaysia Berhad, it aims to develop climate finance solutions through public-private-philanthropic partnerships, focusing on energy transition, sustainable agriculture, circular economy, and nature-based solutions. It will support blended finance structures and connect project owners with funders.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-18•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and the International Finance Corporation conducted online training for banking sector representatives on climate risk management and sustainable finance instruments. The program covered climate-related financial risks, international standards for climate risk management, and risk mitigation strategies. The central bank emphasized the importance of international cooperation in advancing Azerbaijan's green transition.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-18•Albania•Albania Financial Services Authority
The Albania Financial Services Authority issued an alert warning that the NetherexPro investment platform is not licensed or recognised by the authority. It emphasized that firms must be licensed to offer securities or digital token services in Albania and cautioned that using unlicensed platforms could lead to irreversible financial losses. Investors are advised to consult the authority's online register of licensed entities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-06-18•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia and Securities Commission Malaysia launched the Climate Finance Innovation Lab (CFIL) via the Joint Committee on Climate Change to develop climate finance solutions for Malaysia's climate resilience. CFIL will focus on energy transition, sustainable agriculture, circular economy, and nature-based solutions, providing funding and technical assistance to eligible projects. Administered by Bank Pembangunan Malaysia Berhad, CFIL will connect project owners with funders using blended and Islamic finance instruments.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-18•Bahrain•Central Bank of Bahrain
Central Bank of Bahrain Governor Khalid Humaidan spoke at the HSBC GCC Exchanges 2025 Conference in London about Bahrain’s regulatory reforms to attract foreign investment and enhance market competitiveness. He highlighted human capital development as crucial for long-term sector growth. The conference enabled meetings between Bahrain's delegation and global fund managers to boost cross-border investment and promote Bahrain’s capital market.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-06-18•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has utilized generative AI to create a 30-minute podcast summarizing its 2024 Annual Report and Financial Statements. This initiative, part of the Commission's Technology Innovation Unit, aims to enhance operational effectiveness by exploring new technologies. The podcast covers key trends and themes, but the original report remains the definitive version.
Institutional developmentTechnology & data transformationArtificial intelligenceActivity and performance reporting
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2025-06-18•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro concluded the second cycle of its Women on Boards Montenegro programme, aimed at enhancing women's participation in economic decision-making roles. The initiative aligns with the EU Directive on gender-balanced representation, now incorporated into Montenegro's forthcoming Law on Companies. A total of 42 women have completed the programme, supported by the European Bank for Reconstruction and Development.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-06-18•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC, with the UNDP, launched the SEC SMILEES Roadshow in Tagaytay City to enhance sustainability reporting. The initiative helps firms measure and disclose ESG impacts using global frameworks. SEC Commissioner Rogelio V. Quevedo introduced the E-SEC Nature platform, part of the SEC’s digitalisation agenda, supported by Canada.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-18•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC highlighted former chair Emilio B. Aquino's recognition as Blockchain Leader of the Year for reforms advancing blockchain adoption. Since 2021, the SEC's digital transformation includes initiatives like VERITAS and the PhiliFintech Innovation Office. Recent developments include SEC Rules on Crypto-Asset Service Providers and guidelines for crypto-asset marketing, issuance, and trading.
OtherBlockchain and distributed ledger technology
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2025-06-18•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency announced that Board President Ante Žigman will join the European Securities and Markets Authority's Management Board on 6 July 2025. This appointment highlights Žigman’s contributions to digital finance, sustainable finance, and data quality management. Žigman will also serve on the European Insurance and Occupational Pensions Authority's Management Board, marking dual representation for Croatia in key European financial bodies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan reported that money supply and credit growth accelerated in May 2026. Annual growth reached 9.56 percent for M1B and 7.83 percent for M2, while annual growth in total outstanding loans and investments of monetary financial institutions rose to 9.36 percent. The next financial conditions release is scheduled for July 23, 2026.
Data & statisticsMonetary data
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2025-06-18•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has indefinitely lifted the 30 May 2025 deadline for health insurance service providers to prequalify under its 21 March 2025 circular. The authority is consulting with the Uganda Medical and Dental Practitioners Council on the prequalification process and will issue further updates.
Policy & regulationRules & requirementsOther
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2025-06-18•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo, with the World Bank, held a workshop on Kosovo's potential SEPA membership. The event focused on technical, operational, and legal requirements for SEPA integration, with input from the European Payments Council, European Central Bank, and other financial institutions. Governor Ahmet Ismaili and World Bank's Martha Licetti emphasized the importance of planning and communication with stakeholders.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-18•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority approved VEOLIA ENVIRONNEMENT's preliminary prospectus for a capital increase through issuing up to 14,813,052 new shares, reserved for group employees. The offer targets employees of VEOLIA's Moroccan subsidiaries, with a reservation period from 19 to 30 June 2025. The prospectus is supplemented by VEOLIA's universal registration document filed with the French Financial Markets Authority and other relevant documents.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-18•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority approved the prospectus for the "Decathlon International Shareholding Plan" share offering, reserved for Decathlon group employees, including those in Morocco. The subscription price is EUR 33.01 per share (MAD 347.6), with the subscription period in Morocco from 19 to 25 June 2025. The prospectus and related documents are accessible on the AMMC website and at relevant company locations.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-18•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved the prospectus for Vicenne's initial public offering.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-18•Hungary•National Bank of Hungary
The National Bank of Hungary has signed a cooperation agreement with the People’s Bank of China to enhance collaboration in green finance, cyber fraud prevention, and financial stability. It includes cooperation on central bank digital currency, artificial intelligence, digitalisation, instant payment systems, and financial awareness. This partnership highlights China's significant role as a trading partner and investor in Hungary amid global economic uncertainty.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-06-18•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini announced its relocation from Mbabane to Ezulwini by the end of 2025, with the new headquarters featuring an 18-storey complex. Some departments and executives have already moved, while public-facing services will remain in Mbabane until September 2025. Post-relocation, the Mbabane premises will be transferred to the Government for use by the Judiciary and other ministries.
Institutional developmentOther
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2025-06-18•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini granted a provisional licence to Letshego Eswatini Bank in-organisation to operate as a digital bank for up to 12 months. The bank met regulatory standards, including capital adequacy and compliance with the Financial Institutions Act, and aims to serve unbanked and low-income customers. The Central Bank will collaborate with stakeholders to ensure compliance with licence conditions before full operational status is granted.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-18•Iceland•Central Bank of Iceland
The Central Bank of Iceland announced senior management changes, appointing Sturla Pálsson as Head of the Resolution Authority, Haukur C. Benediktsson as acting Director of the Markets Department, and Flóki Halldórsson as Acting Director of the Financial Stability Department.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority updated rules for insurance and reinsurance brokerage under the Unified Insurance Law, covering licensing, governance, and operational standards. Key measures mandate an electronic platform for registration, extend broker registration validity to five years, and set capital and governance requirements for brokerage firms. Freelance brokers are now permitted, subject to Authority approval, with specific record-keeping obligations.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-18•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has mandated governance, fit-and-proper, and appointment rules for insurance and reinsurance company boards and executive managers. The framework includes integrity, qualification, and independence criteria, with specific requirements for board and executive roles, including FRA interviews and approval processes. The decision outlines enforcement measures and compliance timelines, affecting board eligibility and technical role alignment.
Policy & regulationRules & requirementsCorporate governance
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2025-06-18•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority mandates licensing for insurance sector websites, requiring private insurance funds with assets of EGP 10 million or more and all legal entities under the Unified Insurance Law to maintain an Authority-licensed website. The framework includes technical and content standards, information security measures, and allows outsourcing to registered data hosting companies. Entities have three months to comply, with the Authority reviewing applications within 15 days.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-18•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets approved B&M TEST's reorganisation and updated the securities issuers register for ACCENT ELECTRONIC and ALBINUȘA-II. B&M TEST was authorised to convert into a limited liability company, while ACCENT ELECTRONIC's share capital was reduced by MDL 44,941,720. ALBINUȘA-II's share capital increased by MDL 555,490, with shareholders reminded of their rights due to issuances exceeding 25% of shares in circulation.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-18•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet issued guidance on continuing education for state-authorised accountants under the Accounting Services Act, replacing Circular 11/2012. It mandates 80 documented hours over three years, with specific allocations for structured and non-structured training, and outlines compliance conditions and potential withdrawal of authorisation. It also details provisions for new authorisation applications and exceptions for parental leave and serious illness.
Policy & regulationGuidance & interpretationLicence withdrawal
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2025-06-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported its Office Party Committee held its first Party Congress for the 2025–2030 term after an internal reorganisation. The Office expanded its party organisation to 10 subordinate party cells with 169 members, taking over functions from the Administration and Communications Departments. Governor Nguyen Thi Hong emphasized priorities including enhanced advisory support, IT-enabled digitisation, and modernisation of communications.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-06-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Inspectorate Party Committee held its first congress for the 2025–2030 term, focusing on enhancing banking inspections, anti-corruption efforts, and digital transformation. The congress emphasized improving the legal framework, risk-focused inspections, and technology use in inspection processes. Newly appointed leadership was tasked with implementing the congress resolution and establishing clear operational guidelines.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-06-18•Canada•British Columbia Securities Commission
The British Columbia Securities Commission charged Marcel Anil Rada with breaching a BCSC order by allegedly acting as a director or officer despite a permanent ban. The alleged conduct spans from 2017 to 2025, following a 2017 prohibition based on a 2011 decision by the Investment Industry Regulatory Organization of Canada. The charges, a quasi-criminal offence under British Columbia’s Securities Act, could result in fines, imprisonment, probation, and/or restitution orders.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-18•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) settled with Christine Mah, former director of RoccaVerde Wellness Corporation, imposing a six-year market ban and a CAD 5,000 penalty for illegal securities distributions. RoccaVerde raised CAD 133,500 through 14 unregistered distributions, resulting in investor losses. Mah admitted to neglecting prospectus compliance, and her ban restricts her from roles such as registrant, promoter, or director, and limits trading to her own account.
EnforcementInvestigations & enforcement actionsSecurities offerings and listings
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2025-06-18•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission announced the departure of David Saltiel as Acting Director of the Division of Trading and Markets, effective 4 July 2025. Saltiel's tenure included work on market structure, transparency initiatives, investor protection, and the use of emerging technologies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Canada•Bank of Canada
Bank of Canada Governor Tiff Macklem highlighted the disruptive impact of US tariffs on Canadian trade, employment, and inflation, noting a significant drop in goods exports to the US and a decline in manufacturing jobs. He welcomed upcoming negotiations for a new economic and security relationship with the US and emphasized cautious monetary policy amid high uncertainty and mixed inflation signals. The Governing Council maintained the policy rate at 2.75%, with potential for cuts if tariff effects persist.
Monetary policyMonetary policy assessments & outlooksCross-border cooperation
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2025-06-18•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency announced June 2025 enforcement actions, including agreements with three banks to rectify unsafe practices and prohibition orders against two former bank employees for fund misappropriation. The agreements address issues like strategic planning and risk management at Carver Federal Savings Bank, Sterling Federal Bank, and Texas Heritage National Bank. Additionally, two long-standing Graham-Leach-Bliley Act agreements with Wells Fargo Bank, N.A. were terminated.
EnforcementInvestigations & enforcement actionsOther
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2025-06-18•China•China Securities Regulatory Commission
The China Securities Regulatory Commission has launched a reform package to establish a "Sci-Tech Growth Tier" within the STAR Market, facilitating listings for loss-making tech firms with significant breakthroughs. It includes investor protection measures like a "U" identifier for stocks, enhanced risk disclosures, and a pilot regime for seasoned professional institutional investors. The package aims to broaden market access while maintaining the core issuance framework and strengthening oversight against fraud.
Policy & regulationRules & requirementsMarket development
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2025-06-18•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) announced a Sci-Tech Innovation Growth Tier within the STAR Market to support unprofitable, R&D-intensive tech companies, alongside reforms in issuance, disclosure, and investor suitability. Key measures include differentiated exit criteria, enhanced disclosure requirements, and a pilot "seasoned professional institutional investor" regime. The CSRC plans to trial some measures on the STAR Market before broader implementation, focusing on risk monitoring and enforcement against fraud.
Policy & regulationRules & requirementsMarket development
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2025-06-18•China•China Securities Regulatory Commission
Qualified foreign investors can trade on-exchange ETF options for hedging from 9 October 2025, per the China Securities Regulatory Commission. Coordinated with the People’s Bank of China and the State Administration of Foreign Exchange, this move aims to expand investment options and improve risk management for offshore institutions. Further optimization of the foreign investor regime is expected as part of the capital market opening agenda.
Policy & regulationRules & requirementsTrading
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2025-06-18•China•China Securities Regulatory Commission
The China Securities Regulatory Commission announced a capital market reform package at the Lujiazui Forum, focusing on enhancing the Shanghai STAR Market and Shenzhen ChiNext Board to support technology and industrial innovation. Key measures include a "1+6" reform package for the STAR Market, new listing standards for the ChiNext Board, and approval of China's first data centre REITs. The CSRC plans to optimize the Qualified Foreign Institutional Investor framework, expand product access for foreign investors, and tighten enforcement against market misconduct.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-06-18•China•China Securities Regulatory Commission
The China Securities Regulatory Commission, Ministry of Civil Affairs, and Shanghai Municipal People’s Government launched the China Capital Market Society at the 2025 Lujiazui Forum. This institution aims to be a high-end think tank for China's capital markets, focusing on research, academic exchange, and decision-support consulting. It will collaborate with stakeholders to enhance financial development understanding and support Shanghai's international financial centre goals.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-18•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing and UK Financial Conduct Authority Chief Executive Nikhil Rathi met in Shanghai to discuss economic and financial conditions, China-UK capital market connectivity, and AI's role in enhancing capital market regulation.
Policy & regulationCooperationCross-border cooperationArtificial intelligence
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2025-06-18•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) plans to establish a "Sci-Tech Innovation Growth Tier" within the STAR Market to enhance inclusivity for high-quality tech companies. This includes restarting the STAR Market's fifth set of listing standards for unprofitable enterprises and introducing measures to strengthen investor protection. The reform package features six pilots and rule changes, such as a "seasoned professional institutional investor" mechanism and expanded scope for frontier technology sectors.
Policy & regulationRules & requirementsMarket development
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2025-06-18•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) chair Roberto E. Silva discussed capital market regulations and virtual asset service provider frameworks under Law No. 27.739 at an anti-money laundering event. Silva highlighted CNV's rulemaking to boost market normalisation and innovation, citing the Automatic Public Offering regime as key. CNV's money laundering prevention head, Regina Cerone, also contributed.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-18•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has formalized its new board under Decree No. 406/2025, retaining Roberto E. Silva as president and appointing Sonia Salvatierra as vice president. New directors Laura Herbón and Manuel Calderón bring extensive regulatory and financial experience. The board prioritizes investor protection and the development of a more efficient, innovative, and transparent capital market.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-18•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) and the Argentine Confederation of Medium-sized Enterprises (CAME) have renewed their cooperation agreement to support SMEs, focusing on competitiveness and formalization. Signed by CNV President Roberto E. Silva and CAME President Ricardo Diab, the agreement includes coordinated actions in training, technical assistance, and information sharing to advance financial education and access to capital markets.
Policy & regulationCooperationDomestic cooperation
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2025-06-18•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) announced plans to recalibrate the balance between prudential safety and regulatory burden, emphasizing proportionality, competition, efficiency, and contestability in its upcoming Corporate Plan. APRA highlighted rising uncertainties, including geopolitical and cyber risks, and noted new standards on operational risk management and enhanced information security requirements.
Policy & regulationReform agendas & prioritiesOther
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2025-06-18•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) emphasized heightened operational risks from geopolitical volatility, technology reliance, and third-party dependencies, highlighting the forthcoming CPS 230 Operational Risk Management framework effective 1 July 2025. APRA stressed the need for improved cyber resilience and contingency planning, with the Council of Financial Regulators monitoring systemic vulnerabilities and supporting resilience initiatives.
Policy & regulationRules & requirementsOperational risk and resilienceGeopolitical risk
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2025-06-18•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has initiated a consultation on minor updates to regulatory instruments under section 66 of the Banking Act 1959, concerning the use of specific terms in financial business. Submissions are due by 15 August 2025, with a proposal letter and draft instruments available for review.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-18•China•China Banking and Insurance Regulatory Commission
At the 2025 Lujiazui Forum, the China Banking and Insurance Regulatory Commission announced a joint action plan with the Shanghai municipal government to bolster Shanghai as an international financial centre. The plan includes innovation pilots in technology and cross-border finance, and initiatives to enhance reinsurance and marine insurance capabilities. The commission emphasized removing restrictive measures, supporting foreign institutions, and improving the operating environment, with foreign bank and insurer assets exceeding CNY 7 trillion.
Policy & regulationReform agendas & prioritiesCross-border cooperationMarket development
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2025-06-18•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission and the Shanghai Municipal People's Government issued an action plan with 27 measures to bolster Shanghai as an international financial centre. Key initiatives include clustering financial institutions, enhancing cross-border services, and promoting finance in technology, green, inclusive, pension, and digital sectors. The plan also outlines supervisory innovations, consumer protection enhancements, and the development of regulatory technology and financial talent.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-06-18•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission and the Shanghai Municipal Government have issued an action plan to bolster the Shanghai International Financial Center. The plan includes measures for institution clustering, cross-border opening, and supervisory arrangements, focusing on technology, carbon, inclusive, pension, and digital finance. It also proposes enhancing cross-border financial services and innovation pilots, alongside supporting infrastructure and talent initiatives.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-18•Luxembourg•Ministry of Finance (Luxembourg)
The Luxembourg Ministry of Finance announced initiatives to boost the financial centre's competitiveness, such as a carried interest regime, the Peak Accelerator for digital fund solutions, a modernised expatriate tax regime, and a subscription tax exemption for ETFs. Legislative updates include a blockchain law, the Markets in Crypto-Assets Directive, and draft bills for tax credits and stock options, with the minister supporting EU supervisory convergence without a single supervisor.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptechGeopolitical risk
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2025-06-18•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority participated in a conference in Doha on implementing the International Sustainability Standards Board Disclosure Standards S1 and S2. The event, organized with the Qatar Stock Exchange and the Qatar Financial Centre Regulatory Authority, addressed Qatar's corporate sustainability reporting and regulatory expectations, including steps to meet International Financial Reporting Standard IFRS S2 requirements.
Policy & regulationCooperationDisclosures
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2025-06-18•United States•Financial Crimes Enforcement Network
FinCEN held the 62nd semi-annual plenary of the Bank Secrecy Act Advisory Group and released its Year in Review for Fiscal Year 2024, highlighting BSA reporting's utility. The review emphasizes transparency in BSA data usage, supporting law enforcement and national security, aligning with Section 6201 of the Anti-Money Laundering Act of 2020. US Deputy Secretary of the Treasury Michael Faulkender outlined principles for BSA modernization during the plenary.
Data & statisticsRegulatory reporting
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2025-06-18•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority attended a Doha conference on implementing the International Sustainability Standards Board’s disclosure standards S1 and S2. Co-organised with the Qatar Stock Exchange and the Qatar Financial Centre Regulatory Authority, the event focused on corporate sustainability reporting and regulatory expectations for financial and non-financial companies. Keynote addresses were delivered by QFMA’s acting directors of the Risk Unit and the Licensing Department.
Policy & regulationCooperationDisclosures
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2025-06-18•Moldova•National Bank of Moldova
The National Bank of Moldova released statistics on its interbank foreign exchange market activities, detailing FX intervention instruments and recent spot and swap turnover. The data indicate spot FX sales of EUR 1.5 million and FX swap purchases in USD equivalent to EUR 7.4636 million, with no forward operations. Transactions are recorded on the deal date, with amounts converted using monthly average exchange rates.
Data & statisticsForeign exchange policy and markets
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2025-06-18•Moldova•National Bank of Moldova
The National Bank of Moldova shared remarks from Governor Anca Dragu at the “Entrepreneurship Academy – Women of Moldova 2025,” highlighting Moldova's rise to 7th in the Global Gender Gap Index. Despite improvements, Dragu noted ongoing gender disparities in economy, education, health, and politics. She emphasized the central bank's initiatives supporting female leadership, with women comprising 64% of staff and 53% of leadership roles.
Institutional developmentWorkforce & recruitmentDiversity and inclusion
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2025-06-18•Moldova•National Bank of Moldova
The National Bank of Moldova released its monthly statistics on the non-cash foreign exchange market, detailing banks' foreign currency transactions against the Moldovan leu. The report covers interbank and intrabank markets, highlighting SPOT, SWAP, and FORWARD transactions in euro equivalents, with significant intrabank SPOT volumes in US dollars and euros. No SWAP turnover was reported, and FORWARD activity was limited to intrabank euro sales.
Data & statisticsCurrency and cash management
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2025-06-18•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) approved extensive rule changes from its 210th Board meeting to ease business operations and expand mandatory dematerialisation. Key updates include IPO-related relaxations, a fixed-price voluntary delisting route for eligible public sector undertakings, and amendments to the Social Stock Exchange framework. Additional reforms cover REIT and InvIT amendments, co-investment schemes for Alternative Investment Funds, and intermediary reforms allowing specified non-SEBI financial services within the same legal entity.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-18•United States•U.S. Department of the Treasury
The U.S. Treasury, via Deputy Secretary Michael Faulkender, outlined principles for modernizing the Bank Secrecy Act and AML/CFT regime, focusing on efficiency, fairness, and risk-based regulation. Initiatives include doubling small community bank representation, streamlining report processes, and encouraging digital asset innovation. The effort prioritizes national security and high-risk areas, allowing institutions to de-prioritize lower risks.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-06-18•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama (SBP) concluded a pilot project to enhance the customer experience in bank account opening with six banks. It focused on streamlining onboarding, updating customer information, and managing accounts exceeding simplified opening thresholds, ensuring compliance with international standards. Post-pilot, the SBP plans to bolster regulation and risk-based supervision, urging banks to invest in technology to improve customer service.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-06-18•United Kingdom•The Pensions Regulator
The Pensions Regulator urged defined contribution scheme trustees to prepare for the Pension Schemes Bill by focusing on governance and member services. Interim Director Patrick Coyne highlighted four action themes: reviewing investment strategies, assessing value propositions and considering consolidation, enhancing digital infrastructure for data quality, and innovating retirement products.
Policy & regulationGuidance & interpretationOther
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2025-06-18•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
The Trinidad and Tobago Ministry of Finance seeks parliamentary approval for an additional TTD 3.14bn in spending under the Finance Supplementary Appropriation Bill 2025, projecting a fiscal deficit of TTD 9.67bn. The budget allocates TTD 2.87bn for recurrent expenditure and TTD 278.9m for development, focusing on health, public utilities, and education. The ministry announced a USD 15m loan for Tobago's coastal protection and outlined policy work, including transfer pricing legislation and measures for foreign exchange shortages.
Policy & regulationRules & requirements
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2025-06-18•Barbados•Central Bank of Barbados
The Central Bank of Barbados announced a cooperation agreement with the CARICOM Committee of Central Bank Governors and the International Finance Corporation to develop a regional green finance taxonomy for the English-speaking Caribbean. This initiative aims to define green assets, expand climate-related lending and investment, and support green job creation, involving collaboration with financial institutions and regulators to ensure alignment with international standards and local context.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-06-17•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority reached a settlement with AG Insurance, Allianz Benelux, Axa Belgium, and P&V Verzekeringen, involving a EUR 200,000 payment and public disclosure of the firms' names on the FSMA website.
EnforcementInvestigations & enforcement actionsOther
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2025-06-17•Uruguay•Central Bank of Uruguay
Uruguay's Central Bank Financial Stability Committee reported a stable financial system, supported by strong liquidity and resilience. It highlighted macro-financial risks from global volatility, regional challenges in Argentina and Brazil, and domestic solvency and liquidity. Ongoing regulatory adjustments aim to manage risks related to livestock-sector capitalization contracts without impacting stability.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-06-17•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic reported remittance inflows of USD 985.5 million in May 2025, totaling USD 4,903.0 million from January to May, an 11.9% year-on-year increase. Remittances from the United States comprised 83.1% of May's total, with contributions from Spain, Haiti, Italy, and Switzerland. The bank forecasts remittances of USD 11.3 billion and foreign direct investment of USD 4.7 billion by year-end, with international reserves at USD 14,643.6 million, covering 5.4 months of imports.
Data & statisticsBalance of payments and other external statistics
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2025-06-17•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Madafuou Alarabia Company to conduct buy now pay later (BNPL) activities, bringing the total number of SAMA-licensed finance companies to 67. This move supports the finance sector's efficiency and innovation, promoting financial inclusion in Saudi Arabia. SAMA emphasized the importance of engaging with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-17•Montenegro•Central Bank of Montenegro
The Financial Stability Council, led by Central Bank of Montenegro Governor Irena Radovic, reviewed its 2024 report and Q1 2025 update, noting preserved stability and moderate systemic risks. It highlighted rising cyclical risks from high real estate prices and supported aligning domestic laws with the EU's DORA for better cybersecurity. Recent data showed mixed indicators: increased tourist arrivals and loans, but declines in industrial output and transport.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-06-17•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg is partnering in a national campaign to combat online fraud, launched at the Governance, Risk, Compliance Summit. Supported by over fifteen partners, including the Luxembourg House of Cybersecurity and the Ministry of Economy, the initiative aims to address complex fraud schemes and enhance cybersecurity for the public and financial sector, underscoring the importance of securing payment instruments to maintain public confidence.
Financial literacy & educationFraud and scamsCyber resilience